Are you caught in the 60% tax trap?

Budget changes will hit those earning between £50,000 and £60,000 with childrenThis week’s budget promised an income tax giveaway next year worth nearly £3bn, as the chancellor raised thresholds for paying tax, while keeping the standard tax rates at 20%, 40% and 45% in England and Wales. Yet there are about 1 million people who face an effective 60% tax rate on their income, and after the budget, the problem, for some, got a bit worse.The kinks in the tax system mean tha